Rahul hits out at govt over Moody’s credit downgrade

NEWDELHI: Congress leader Rahul Gandhi Tuesday expressed concern over the downgrading of India’s sovereign credit rating by Moody’s Investors Service to the lowest investment grade and warned the worst is yet to come because of a lack of support to the poor and the MSME.

He targeted PM Narendra Modi over his handling of the economy. “Moody’s has rated Modi’s handling of India’s economy a step above JUNK. Lack of support to the poor and MSME sector means the worst is yet to come,” he tweeted. “11 crore Indians are employed by MSMEs. 1/3rd of them are closing down permanently. It’s criminal for GOI not to give them cash support immediately.” Reacting to this, BJP MP Rakesh Sinha said,“Rahul Gandhi’s understanding of economy is as poor as his understanding of polity. There are many international institutions which assess and give ratings to Indian economy. But many economic and non-economic factors remain consciously or unconsciously undermined by these institutions. What Narendra Modi has said in CII meeting is indicative of India’s determination to fight all odds. Unlike many developed liberal democracies, India under Modi very successfully fought the crisis which appeared due to Corona and Modi’s leadership is being applauded by world leaders. Rahul Gandhi is acting as an agent of pessimism.”